China's Economy is Hitting the Brakes
Petar Kujundzic / Reuters-Landov
More clues that China's economy is slowing:
Sales in Canada’s most expensive housing market continue to plummet with the Greater Vancouver area hitting a 10-year low in June for activity.
The Real Estate Board of Greater Vancouver said there were 2,362 property sales in June, a 27.6% drop from a year earlier and a 17.2% decline from just May.
Vancouver real estate—especially condominiums—is very much driven by sales of second homes to wealthy Chinese seeking emergency escape refuges.
About the Author
David Frum
David Frum is a contributing editor at Newsweek and The Daily Beast and a CNN contributor. He is the author of eight books, including most recently the e-book WHY ROMNEY LOST and his first novel Patriots, published in April 2012.
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